Frontier Group (NASDAQ:ULCC) PT Raised to $5.00

Frontier Group (NASDAQ:ULCC) had its price objective boosted by equities research analysts at Evercore ISI from $4.00 to $5.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price target points to a potential downside of 13.94% from the stock’s current price.

Several other equities analysts have also recently commented on ULCC. TD Cowen raised their price target on shares of Frontier Group from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Monday, September 16th. Barclays reduced their price objective on shares of Frontier Group from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Susquehanna reduced their price objective on shares of Frontier Group from $4.50 to $3.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Bank of America reduced their price objective on shares of Frontier Group from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Finally, Citigroup raised their price objective on shares of Frontier Group from $3.50 to $4.70 and gave the company a “neutral” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.57.

Frontier Group Stock Performance

Shares of ULCC stock opened at $5.81 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.52 and a debt-to-equity ratio of 0.43. Frontier Group has a 52 week low of $2.79 and a 52 week high of $8.33. The stock has a market capitalization of $1.30 billion, a PE ratio of -48.41 and a beta of 2.55. The firm has a 50 day moving average of $3.88 and a two-hundred day moving average of $5.12.

Frontier Group (NASDAQ:ULCC) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Frontier Group had a negative net margin of 1.77% and a negative return on equity of 4.09%. The company had revenue of $973.00 million during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company posted $0.31 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, research analysts predict that Frontier Group will post 0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Frontier Group

Several hedge funds and other institutional investors have recently bought and sold shares of ULCC. AlTi Global Inc. acquired a new stake in Frontier Group during the 2nd quarter worth $21,222,000. Boston Partners increased its stake in Frontier Group by 176.6% in the first quarter. Boston Partners now owns 1,053,270 shares of the company’s stock valued at $8,518,000 after purchasing an additional 672,471 shares during the period. Marshall Wace LLP acquired a new position in Frontier Group in the second quarter valued at $1,011,000. Algert Global LLC increased its stake in Frontier Group by 119.0% in the second quarter. Algert Global LLC now owns 250,623 shares of the company’s stock valued at $1,236,000 after purchasing an additional 136,159 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Frontier Group in the second quarter valued at $659,000.

About Frontier Group

Frontier Group Holdings, Inc, provides low-fare passenger airline services to leisure travelers in the United States and Latin America. The company sells its products through direct distribution channels, including its website, mobile app, and contact centers. As of December 31, 2023, it had a fleet of 136 Airbus single-aisle aircrafts.